Towneley Capital Management Inc DE Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Towneley Capital Management Inc DE bought a new position in shares of Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,179 shares of the company’s stock, valued at approximately $6,314,000. Eli Lilly and Company accounts for approximately 1.5% of Towneley Capital Management Inc DE’s investment portfolio, making the stock its 14th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. New Republic Capital LLC increased its holdings in shares of Eli Lilly and Company by 5.8% in the 4th quarter. New Republic Capital LLC now owns 1,248 shares of the company’s stock worth $964,000 after acquiring an additional 68 shares during the period. Single Point Partners LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $252,000. Sovran Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $375,000. Compound Global Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $463,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $824,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $872.98 on Thursday. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company has a 50-day moving average of $792.27 and a two-hundred day moving average of $843.94. The stock has a market cap of $828.74 billion, a price-to-earnings ratio of 74.55, a PEG ratio of 1.87 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, equities research analysts expect that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 44.41%.

Eli Lilly and Company announced that its board has approved a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LLY shares. Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Truist Financial raised their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.